EghtesadOnline: Trade between Iran and Belgium stood at over €678 billion in 2017, registering a 10.35% rise compared with 2016.

This makes the European country Iran’s seventh biggest trade partner from among the 28 member states of the European Union over the period after Italy, France, Germany, Spain, the Netherlands and Greece.

Iran exported close to €134.9 million worth of commodities to Belgium last year, indicating a 21.5% decline compared with the previous year, based on the latest Eurostat figures shared with Financial Tribune.

Imports of Iran from Belgium, on the other hand, amounted to more than €543 million, showing a 22.7% increase year-on-year, Financial Tribune reported.

Belgium played a coordinating role during negotiations between Iran and P5+1 (the five permanent members of the UN Security Council plus Germany), which culminated in the signing of the Joint Comprehensive Plan of Action in July 2015.

In a meeting with President Hassan Rouhani in Tehran in September 2017, President of the Belgian Chamber of Representatives Siegfried Bracke reiterated the EU promise to safeguard JCPOA against the attacks of US President Donald Trump.

“JCPOA is of utmost importance for Belgium and the EU, and we will make every effort to ensure the EU fulfills all its commitments,” he said.

Belgium’s Antwerp Port Authority signed a memorandum of understanding with Shahid Rajaie Port Authority, located in Iran’s southern Hormozgan Province, back in July 2016.

Under the terms of the MoU, the respective port authorities of Antwerp and Bandar Abbas agreed to join forces so that companies in both ports can collaborate and develop trade between Iran and Belgium.

"Today we are restoring our trade ties with Iran, a country with great economic growth potential that is also a gateway to neighboring countries. Antwerp is perfectly situated to contribute to further trade with this country,” Eddy Bruyninckx, the CEO of Antwerp Port Authority, was quoted as saying during the signing ceremony.